JAKARTA - PT Catur Sentosa Adiprana Tbk (CSAP) aims to score IDR 857.37 billion in a rights issue scheduled from June 14-20. In this corporate action, the company plans to issue 1.22 billion shares of IDR 700 each.

According to the short prospectus quoted Tuesday (18/4), the rights issue proceeds will be channelled to the working capital of PT Catur Mitra Sejati Sentosa (CMSS), a subsidiary of CSAP. Then, approximately IDR 415 billion will be spent on the acquisition of building and land of 22,070 m2 in Jatisempurna, Bekasi.

Some of CSAP’s shareholders will exercise their rights in this corporate action. They are PT Buanatata Adisentosa (BA) that owns 32.01% of the shares, SCG Retail Holding Co Ltd (SCG) of 30.89%, NT Asian Discovery Master Fund (NTA) of 13.18%, Albizia Asean Opportunitie Fund of 10%, and Budyanto Totong of 5.80%.

As of now, CSAP’s authorised capital is at IDR 800 billion, while its issued and paid-up capital clocks up to IDR 445.83 billion. Meanwhile, the stock in its portfolio is worth IDR 354.16 billion. The public’s portion is 8.12%. After this corporate action, the issued and paid-up capital will rise to IDR 595.83 billion, while the stock in portfolio shrinks to IDR 204.16 billion. (LK/ZH)